Moody's U.S. credit warning spooks world markets - USATODAY.com
Are you guys worried? Maybe debt does matter. So much for neo-classical and Keynesian policies; this may be the beginning of the fall back to earth. You can't bring about prosperity by acting like you're prosperous.LONDON — The United States and Britain must take action soon to get their public finances in order if they want to avoid threats to their top triple-A credit ratings, a leading credit ratings agency said Tuesday, accelerating U.S. and European stock markets' decline.
In an assessment of eight triple-A countries, Moody's Investors Services said the public finances in both countries are deteriorating considerably and may therefore "test the Aaa boundaries" in the future.